Easing geopolitical tensions reflect on Russian economy positively: Central Bank

ISTANBUL

The Russian Central Bank, the Bank of Russia, has announced that easing in geopolitical tensions reflected on the country's economy positively.

The ruble appreciated against the US dollar by 10.5% month on month, it said on Monday.

"The geopolitical environment also fuelled the rise in the Russian stock market – the MOEX Russia Index gained 8.6% month on month," the bank noted, adding: "Corporate bond and OFZ yields predominantly decreased and the spreads between bonds of various rating groups narrowed."

The bank also said ruble-denominated instruments demonstrated the highest monthly yields, with the most notable rises in shares reported by companies from the sectors that are most sensitive to sanctions.